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Launched

Defiance Daily Target 2X Long AMAT ETF

AMANasdaqDefianceCThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$12.89−1.14 (−8.09%)

At close: Nov 2, 2026, 4:00 PM ET

C45/ 100

Rank 107 of 380 in Single-Stock Long Leveraged

C45/100Rank 107 of 380inSingle-Stock Long Leveraged
Intraday session: down, 79 prints from 14.03 to 12.89. Range 12.89 to 14.71. Use the arrow keys to read each point.13.5014.5010 AM12 PM2 PM4 PM
Expense ratio
1.31%
Fund size
$18M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
7
Avg volume · 30D
291K sh
52W range
low $12.89high $62.00
Launched

The ETF.net AMA Grade

Based on 5 of 6 pillars

C

Score 45 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
107 of 380
Six-pillar profile for AMA. Scores out of 100: Cost 25, Risk 58, Mission 82, Tradability 67, Holdings not scored, Durability 61. Strongest: Mission (82). Weakest: Cost (25). Based on 5 of 6 pillars.

Score 45 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D25 out of 100
    Rank 272 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A82 out of 100
    Rank 116 of 150

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B58 out of 100
    Rank 127 of 368

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B67 out of 100
    Rank 94 of 380

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B61 out of 100
    Rank 122 of 380

Our read on AMA

ETF.net Research

In short

CThe first ETF to bolt 2x daily leverage onto Applied Materials, the company whose machines help make the chips. One stock, double the daily move, reset every night, at a 1.31% expense ratio.

Stated mandate

The Fund seeks daily investment results equal to two times the daily percentage change in Applied Materials, Inc.'s share price, before fees and expenses.

Why people hold it

  • First ETF built to give 2x daily exposure to Applied Materials, the equipment maker whose tools sit upstream of nearly every chip. Launched in 2026.defianceetfs.cometfgi.com
  • The mandate is literal: two times AMAT's daily percentage change, before fees and expenses. No index to drift from, no stock picking, one name and one multiple.defianceetfs.com
  • Holds to that mandate closely enough to sit in the upper half of a crowded single-stock leveraged field, and it changes hands at moderate volume.

Worth knowing

  • Leverage resets daily. Hold longer and results compound off each day's move, which can diverge sharply from twice AMAT's return over the same stretch.
  • The 1.31% expense ratio sits above the category median; 2x peers such as TSMG (0.76%) and OKTG (0.75%) charge less, though neither tracks Applied Materials.
  • One stock, doubled: AMAT earnings nights and turns in the chip-equipment cycle land here with twice the force. It is also still a young, small fund.

AMA Performance

Launched Apr 30, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
AMA$4,835
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,093
Jul 31, 2026 to Nov 2, 2026. AMA $4,835. SPY $10,093. Use the arrow keys to read each point.$5,000$7,500$10,000Jul 2026Sep 2026Nov 2026

Jul 31, 2026 – Nov 2, 2026

Returns run to the Nov 2, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for AMA. Periods over one year show the average yearly return.
PeriodAMA
Year to dateFund launched this yearNo data
1 month−54.1%
3 months−51.7%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for AMA
YearReturn barAMA
2026 YTD−35.5%

Since listing, Apr 30, 2026

AMA in the news

AMA Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 2, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Apr 2026. No distributions yet.

AMA Risk

Risk pillarB58 out of 100Rank 127 of 368 in Single-Stock Long Leveraged

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
Launched Apr 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
Launched Apr 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
Launched Apr 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
7.18
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

AMA Cost

Compare AMA and GOGL

Overpaying vs GOGL, tied cheapest in Single-Stock Long Leveraged

$19,364

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AMA 1.31%

    $23,519

  • GOGL 0.20% Tied cheapest

    $4,155

$10,000
30 years

Cost over time

  • AMA 1.31%
  • GOGL 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530AMA $23,519GOGL $4,155

Year by year

YearAMAGOGLOverpaying
10$2,280$365$1,915
20$8,450$1,421$7,029
30$23,519$4,155$19,364

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